Clean Development Mechanism [CDM]

The Clean Development Mechanism, also known as CDM, permits developed nations with an emission-limitation obligation or emission reduction under the ongoing Kyoto Protocol to execute an emission deduction undertaking in developing nations as an option for more costly emission reductions. In addition, in exchange for the part of emission drop thus accomplished, the sponsoring gets carbon credits that can compensate against its Kyoto marks.

The developing nation then achieves a measure towards sustainable growth. In simpler terms, the Clean Development Mechanism (CDM) is a feasible option for lowering the industrialized nations' carbon emissions. This mechanism is created into the Kyoto Protocol, formed after the United Nations Framework Convention on Climate Change was introduced. Keep reading the article below to learn more about the Clean Development Mechanism that will help you prepare for your upcoming IAS exam.

Clean Development Mechanism (CDM) - Overview

The Kyoto Protocol launched the Clean Development Mechanism (CDM) to battle climate change. This consensus between progressive and evolving nations aims to lower emissions to conserve the ozone layer and aim for a cleaner atmosphere.

Under this Clean Development Mechanism program, financially-reliant countries incentivize growing nations to establish projects that lower harmful greenhouse gases such as carbon dioxide. At the very time, they obtain what are called Carbon Emission Reduction (CER) credits, which are equivalent to 1 tonne of carbon dioxide.

Here are some points you need to know about carbon credit.

• Carbon credit exchange is a mechanism that strives to promote nations to reduce Greenhouse gas emissions by awarding those who achieve their responsibilities and delivering monetary incentives to growing countries to do so.
• Extra credits (accepted by surpassing the goal of lowering emissions) can be traded globally.
• One credit equals one tonne of carbon dioxide emissions bypassed.
• The endeavour would expand financing to growing nations, where multiple projects are executed.

Purposes of Clean Development Mechanism (CDM)

A Clean Development Mechanism (CDM) undertaking must deliver measurable progress related to climate flux mitigation. This undertaking should offer real, long-term advantages, and they should be able to lower harmful greenhouse emissions materially. The purposes of a Clean Development Mechanism (CDM) are as follows:

• Add to the prevention and halting of climate change.
• Assist developing nations in long-lasting strategy development.
• Help industrialized nations in lowering emissions and transitioning to greener power sources.
• Assist nations in executing innovative strategies for lowering harmful emissions.
• Reducing the dependence on fossil energies.
• Utilizing animal waste to produce power and actively handling it.
• Reducing the amount of pollution produced during the manufacturing procedure.

Steps Involved in Clean Development Mechanism

Here are some steps included in Clean Development Mechanism launched by the Kyoto Protocol:

• Project identification

It is the primary stage, and it entails analyzing to discover a notion that can reduce harmful greenhouse gas emissions.

• Permission from the Government

After the concept has been identified, it is presented to the Ministry of Environment, Forest, and Climate Change for permission by the Indian government.

• Project development

Research is being performed to set a baseline against which emissions growth will be scrutinized after the Kyoto Protocol.

• Authentication

The Clean Development Mechanism Organizational Entity sets an unbiased organization to ascertain the outcomes of the preliminary identification survey.

• Registration Procedure

Legal approval by the governing committee changes the specified project into a clean development project, granting it all the economic and lawful conveniences delivered by the Kyoto Protocol.

• Tracking

After registration, deviations in greenhouse gas emissions are pursued over time, and reasonable modifications to the implementation of the project are completed.

• Verification

A team of experts affirms all of the information and outcomes before sending them to be approved.

FAQs on Clean Development Mechanism

Q.1. What is the full form of CDM?

The full form of CDM is the Clean Development Mechanism.

Q.2. What are some objectives of a Clean Development Mechanism?

Some objectives of a Clean Development Mechanism are as follows:

• Assist developing nations in long-lasting strategy development.
• Assist nations in executing innovative strategies for lowering harmful emissions.

Q.3. What do we mean by a Clean Development Mechanism?

The Clean Development Mechanism, also known as CDM, permits developed nations with an emission-limitation obligation or emission reduction under the ongoing Kyoto Protocol to execute an emission deduction undertaking in developing nations as an option for more costly emission reductions.

Q.4. Who launched the Clean Development Mechanism?

Kyoto Protocol launched the Clean Development Mechanism.